Carbonbase Carbon Calculator
Europe Fintech for Good Trending

TSB Partners with Cogo For Customers to Monitor and Reduce Their Own Carbon Footprint

TSB customers can now monitor and reduce their carbon footprint, as the bank launches a new partnership with Cogo – the carbon footprint-tracking app that analyses the environmental impact of account transactions.

This follows TSB’s announcement earlier in the year to become net-zero by no later than 2030. The
bank has introduced green mortgage products, building on initiatives such as TSB’s plant a tree pledge for home moves. Now TSB is turning its focus to colleagues and customers – helping them understand the changes they can make to spend more sustainably using their TSB Spend & Save Accounts.

The Cogo collaboration adds to TSB’s existing programme, in which the Bank partners with innovative fintechs to help deliver money confidence to its customers. Buying sustainably and making greener choices can also add up to big differences in financial savings for customers.

Cogo estimates that up to 574 million kg1 of CO2 emissions per year – which is equivalent to driving over two billion miles2 or over 50,000 times around the world in a car – could be saved should TSB’s three million digital banking customers use the service.

Cogo uses open banking and data linked to electronic bank statements to analyse customers’ financial transactions and day-to-day spending to give a clear picture of the impact this has on the environment.

John Lyons, Director of Payments and Partnerships, TSB said: “By partnering with Cogo, we are providing millions of our online customers with all the tools necessary to help make more informed and sustainable choices about their purchases.”

To calculate a person or household’s carbon footprint, Cogo first analyses their banking data and matches every transaction to a specific industry (fashion, grocery, insurance). It can then estimate the carbon footprint of that transaction. For example, £1 spent at a UK fashion retailer creates on average 1kg CO2e3.

The app also factors in the type of products sold by each company, for example which energy suppliers use 100% renewable electricity. Based on that individual’s actions, Cogo will then suggest ways to lower their carbon footprint.

Emma Kisby, Chief Executive Office, Cogo said: “We know that people want to take action to help the environment, but are often unsure what to do. Due to the sheer scale of the problem they can feel like their individual actions won’t matter, but if millions of people join together to make conscious choices, it will have influence and lead to systemic change. That is why partnerships, like this one with TSB, are so important to Cogo as it gives millions of customers the chance to understand, measure and reduce the impact of their spend.

“This partnership also demonstrates the critical role fintechs can play in supporting banks to help customers make real and positive changes to transition to a low carbon economy.”


  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.

Related posts

New Digital Banking Service Combines Farming and Fintech From Oxbury Bank

Gina Clarke

Sustainable Sukuk and Bonds Framework Launched in Qatar to Create Harmonised Financial Ecosystem

Francis Bignell

The 2020 API Industry Landscape [Map]

Jason Williams